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hleyplus.com/courses/45281/assignments/ support Chocolate Treats has the following account balances: Cost of goods sold Depreciation expense Insurance expense Interest expense Interest revenue $390,000 13,500 3,400 11,500 8,800 Rent expense Salaries expense Sales Sales discounts Sales returns and allowances $44,000 54,000 565,000 5,800 17,500 Assuming Chocolate Treats uses a multiple-step income statement, calculate the following: (a) net sales, (b) gross profit. (c) operating ex (e) profit. (a) Net sales $ 541700 (b) Gross profit 175000 (c) Operating expenses $ 101400 (d) Profit from operations $ 161500 (e) Profit $ 158900 Current Attempt in Progress Presented below are the components in determining cost of woods sold. Determine the missing amounts. Beginning Inventory $259,000 Purchases $176,000 Cost of Goods Available for Sale $ Cost of Goods Sold 1 Ending Inventory $41,000 $ 2 97.000 59.000 87.000 3 12,000 137.000 26.000 85.000 92,000 42,000 e Textbook and Media